BMO Annual Post-RRSP Deadline Study: More Than One-Third of Ontarians Contributed to an RRSP This Year
- 38 per cent contributed to an RRSP before Feb. 29th deadline - the same as the national average - Ontarians contributed an average of $4,038 - $900 less than last year - More than half (60 per cent) of the province's contributors opted for mutual funds for their RRSPs, followed by GICs (26 per cent), equities (22 per cent), bonds (6 per cent) and ETFs (6 per cent) - Nationally, men more likely than women to have contributed
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 03/01/12 -- BMO Financial Group today released the findings of its Third Annual Post-RRSP Deadline Study, which found that, despite ongoing volatility in the financial markets, 38 per cent of Ontarians had contributed or planned to contribute to their Registered Retirement Savings Plans (RRSPs) before the February 29th deadline. This mirrored the national contribution rate and essentially matched last year's provincial rate of 40 per cent.
The study also found that:
"It's encouraging that almost 40 per cent of Ontarians contributed to their RRSPs this year despite the volatility we've seen in the financial markets," said Larry Moser, Regional Sales Manager, Eastern Ontario, BMO Bank of Montreal. "Contributing to an RRSP remains one of the most effective ways to secure your retirement so it's important that Ontarians make every attempt to maximize their contribution annually."
Key National Findings:
"Many Canadians are financially stretched and saving for retirement often gets pushed down the list of priorities," said Tina Di Vito, Head of the BMO Retirement Institute. "However, saving for retirement doesn't have to happen all at once. The key is to make regular contributions to your RRSP, regardless of the amount. You'll be surprised how quickly your nest egg will grow over time."
BMO offers advice on how to find those extra dollars for your RRSP:
For more information on planning for retirement, please visit .
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The survey was completed online from February 21, 2012 to February 23, 2012, using Leger Marketing's online panel, LegerWeb, with a sample of 1,500 Canadians. A probability sample of the same size would yield a margin of error of +/- 2.5%, 19 times out of 20.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $538 billion as at January 31, 2012, and more than 47,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.
Contacts:
Media Contacts:
Amanda Robinson, Toronto
416-867-3996
Sarah Bensadoun, Montreal
514-877-8224
Laurie Grant, Vancouver
604-665-7596
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Datum: 01.03.2012 - 11:00 Uhr
Sprache: Deutsch
News-ID 120452
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TORONTO, ONTARIO
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Personal Finance
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